The aim of this paper is to model painting prices at auction. Our contribution is threefold: first, the set of regressors used as explanatory variables in the hedonic regression is wider than those previously employed in the literature. Second, we use the Heckman (1979) approach to eliminate the...

Considering all transactions related to modern and contemporary visual artists mediated by galleries in Italy between 2007 and 2012, we find that artist brand depends positively on talent, consolidated fame and volatile fame. These three latent characteristics have different impacts on the brand...

We study the XVII century market for figurative paintings in Italy, analyzing original contracts between patrons and artists: this is one of the first manufacturing markets for which econometric evidence of the basic laws of economics can be found. Size of paintings, expected quality, type of...

Under what conditions can legacies of past violence shape political behaviour? We propose a theory of how war victimization defines attitudes over the long run, and how these can be activated by changes in the political environment. We argue that exposure to violence by members of a different...